Finance Your Start-Up
Corvallis Business Funding Resources. According to the Kauffmann Foundation, the average cost of starting a new business comes in at just over $30,000. The SBDC
has a good summary of options here. But if you’re beyond self-funding and need help, there are many options:
Find an independent investor who can help finance your early growth, with an expectation of a high return on investment, and an “exit” after 3-7 years. The definitive guide to Angel Investing in Oregon
University Venture Development Funds
- WAC – Willamette Angel Conference is an annual Conference and training program matching start-ups with investors, and providing business plan support, pitch support and mentoring.
- Angel Oregon Link with Angel investors focused on Oregon based start-ups
- OEN –Oregon Entrepreneur Network
- Portland Venture Group – Seeks to fund start-up and early stage business ventures in the greater Portland and Vancouver, WA areas – Click here to learn more
Kick Start it with Crowdfunding
Crowdfunding, raising money by selling product, services to friends, family and beyond is growing in popularity. These are tricky to do well, and it is wise to do your research and be well prepared to share video and "incentives". There are thousands of articles, here's a moderated selection of some helpful ones.
- using an online source to match QUALIFIED angel investors with start ups.
for an overview of crowdinvesting
Commercial Venture Capital
Usually, the most difficult to find source of financing is venture capital
Venture capitalists have exacting standards for choosing an investment and often require some management and ownership control in the business. A good primer can be found on the U.S. Small Business Administration (SBA) Web site.
SBA Venture Capital Web Site
Other Venture Capital Sources
There are several venture capital networks that seek to connect investors with entrepreneurs. One of these is the Oregon Entrepreneurs Network (OEN), which sponsors an annual “Angel Oregon” competition. Their Web site has links to a number of venture capital firms. OEN
Get A Grant
If you’ve got technology, there may be a grant for you:
Small Business Innovation Research (SBIR) Program
- Oregon BEST Oregon BEST (Oregon Built Environment and Sustainable Technologies Center) Offers Commercialization Grants
- Oregon Financing: Oregon has a number of programs for different types of businesses More>> http://www.oregon4biz.com/Business-financing-resources/
- Oregon Credit Enhancement Fund: The Oregon Credit Enhancement Fund is an important loan insurance tool that lenders can use to help businesses needing extra security to obtain financing. http://www.econ.state.or.us/cef.htm
Under the SBIR programs, 11 Federal agencies (including USDA) award research and development funds to small businesses via a highly competitive, targeted process. The SBIR program is designed to stimulate technological innovation and provide opportunities for small business. http://www.sbir.gov/ -or- http://www.sba.gov/content/sbic-program-0
Get a Loan
Bank Loans can be hard to get for start-ups, as they usually require either strong cash flow, or captial assets as collateral. Some other options include:
Consider a micro-loan
- USDA Rural Development Grants Operated by USDA Rural Development Program assistance is provided in many ways, including direct or guaranteed loans, grants, technical assistance, research and educational materials.